It’s June, and with the summer heat the real estate market also heats up this time of year. Overall, prices moved up in May, though inventory came up slightly. Expect a slight slow down in early July for summer vacations, then the market usually picks back up again before the fall and winter slow down.
Read More to see how the Central Ohio real estate market did in May and to view trends.
- šļø Central Ohio Homes For Sale, Listed, Sold, & Pending
- šCentral Ohio Average Price Per Square Foot
- šCentral Ohio Days on Market
- š²Central Ohio Home Prices
- šļø Central Ohio Months Of Inventory
- šCentral Ohio Absorption Rate
- Central Ohio Real Estate Market Report At A Glance
- Central Ohio Home Sellers
- Columbus OH Home Buyers
šļø Central Ohio Homes For Sale, Listed, Sold, & Pending
The number of Homes For Sale in May 2019 was 3341 units.
ā¢ 
Up 18.8% compared to April 2019
ā¢ Up 4% compared to May 2018
The number of Homes Listed in May 2019 was 3979 units.
ā¢ Up 16.8% compared to April 2019
ā¢ 
DownĀ 1.6% compared to May 2018
The number of Homes Closed in May 2019 was 2862Ā units.
ā¢ Up 13.3% compared to April 2019
ā¢ DownĀ 1.1% compared to May 2018
The number of Homes Placed Under Contract in May 2019 was 3776 units.
ā¢ Up 23.8% compared to April 2019
ā¢ Up 19.7% compared to May 2018
šCentral Ohio Average Price Per Square Foot
The Average Price per Square Foot on Sold homes trend is again Appreciating.* In May 2019 the Average Price Per Square Foot was $130.
ā¢ Up 2.4% compared to April 2019
ā¢ Up 5.7% compared to May 2018
*Based on 6 month trend – Appreciating/Depreciating/Neutral
šCentral Ohio Days on Market
The average Days On Market trend in the Columbus area is Falling.*
The Average Days on Market in May 2019 was 25 days.
ā¢ Down 13.8% compared to April 2019
ā¢ Up 4.2% compared to May 2018
The Sold/Original List Price Ratio is Rising* at 98% for May 2019.
ā¢ 0% compared to April 2019
ā¢ 0% compared to May 2018
*Based on 6 month trend – Rising/Falling/Remains Steady
š²Central Ohio Home Prices
The Median Sold Price trend is Appreciating* The Median Sold Price for May 2019 was $230k.
ā¢ Up 3.1% compared to April 2019
ā¢ Up 7% compared to May 2018
The Average For Sale Price trend is Appreciating.* The Average For Sale Price in May 2019 was $419k.
ā¢ 0% compared to April 2019
ā¢ Up 3.5% compared to May 2018
The Average Sold Price trend is Appreciating.* The Average Sold Price in May 2019 was $263k.
ā¢ Up 4.8% compared to April 2019
ā¢ Up 8.2% compared to May 2018
*Based on 6 month trend – Appreciating/Depreciating/Neutral
šļø Central Ohio Months Of Inventory
It’s still a Seller’s Market* in Columbus, Ohio!
The Months of Inventory based on Closed Sales in May 2019 was 1.2.
ā¢ Up 9% compared to April 2019
ā¢ Up 9% compared to May 2018
*Seller’s market: less than 3 months of inventory based on closed sales
šCentral Ohio Absorption Rate
The Absorption Rate based on Closed Sales in May 2019 was 85.7.
ā¢ Down 4.6% compared to April 2019
ā¢ Down 4.9% compared to May 2018
*Seller’s market: 33.33% and above based on closed sales
Central Ohio Real Estate Market Report At A Glance
Use this table to quickly see how the Columbus, Ohio area real estate market is doing.
Central Ohio Home Sellers
Planning to sell your home soon? Sellers Markets don’t last forever. As stated above, July can sometimes slow down as many people go on vacation, and the market will probably pick back up in August. If you want to take advantage of the summer selling season before it ends, the time to prepare your home is now. You will want to get it listed at the right price in order to sell quickly for as much as possible.
If you want to list andĀ sell your home, talk with a top Columbus real estate agent.
Call or text ColumbusĀ Realtor Rita BoswellĀ at 614-830-9767 to learn more about market conditions in your specific community.
Get Your Home’s Value InstantlyColumbus OH Home Buyers
Mortgage rates are at two year lows, and home are values in Central Ohio are predicted to continue to rise, so it’s a great time to buy a home. Combine those factors with the slightly higher inventory, and it may just be the perfect time to find your dream home!
It’s a hot seller’s market though, so be prepared. If you’re serious about buying a home in the near future, be ready before finding the perfect home. Fix any issues with your credit. Then, talk with a mortgage professional to get pre-approved.
Work with a Top Home Buying Agent to help you find homes that fit your needs and budget. Be ready to make a realistic, competitive offer when you find the right home.
Browse Today’s Newest ListingsAbout Central Ohio Real Estate Market Reports
“At the Rita Boswell Group, our goal is to provide home buyers and sellers with the most recent, in-depth market information possible.
Our report is based on data supplied by the Columbus Board of Realtors or its MLS. Information is deemed reliable but not guaranteed. Specific data points provided above may be adjusted, which will be reflected in future reports.
Our Central Ohio real estate market reports cover the counties of Franklin, Delaware, Fairfield, Licking, Madison, Pickaway, and Union. For market information on a specific community, contact Realtor Rita Boswell at 614-830-9767.”